Good morning, folks, and a very happy Friday to you all. We’re looking to wind down after one of the most intense weeks the global market has ever seen, and are looking forward to milder temperatures after a week of weather that mirrored the same economic turbulence.

This week’s guide is your passport to AUC’s second annual CultureFest. This year, AUC celebrates our vibrant multicultural identity, showcasing the living tapestry of global influences that shape modern Cairo. Stuck on which of the numerous interactive workshops, thought-provoking panel discussions, and dazzling performances to attend? No worries, we’ve rounded up the events you can’t miss below.

LAST WEEK IN 3 MINS-

ENERGY-

Fuel prices are up for the first time in 2025: The government’s fuel pricing committee has decided to raise fuel prices by 12-33% as of 6am this morning, according to a statement from the Oil Ministry.

Here’s a breakdown of the new prices:

• 95-Octane is now priced at EGP 19.00 per liter, up 11.8% from EGP 17.00;
• 92-Octane rose to EGP 17.25 per liter, up 13.1% from EGP 15.25;
• 80-Octane is now EGP 15.75 per liter, a 14.5% increase from EGP 13.75;
• Diesel prices climbed to EGP 15.50 per liter, up 14.8% from EGP 13.50;
• Kerosene is now priced at EGP 15.50 per liter, also up 14.8% from EGP 13.50.
• The price of a 12.5-kg household butane gas cylinder jumped 33% to EGP 200 from EGP 150.
• The price of a butane gas cylinder for commercial use rose to EGP 400, up 33% from EGP 300.

Industrial mazut also saw a hike: The price of mazut supplied to most industrial sectors rose 10.5% to EGP 10.5k per ton, from EGP 9.5k previously. Meanwhile, the government has kept prices unchanged for mazut used in electricity generation and the food industry, as well as for compressed natural gas for vehicles, the statement said.

The statement made no mention of whether household natural gas prices were adjusted or left unchanged.

BUDGET WATCH-

The Finance Ministry now sees Brent crude prices averaging USD 77 per barrel from July 2025 through June 2026, down from its previous forecast of USD 82 a barrel in the FY 2024-25 budget, The estimated price could be higher than actual oil price levels during the year, with indicators are pointing towards a global dip in oil prices at large.

ECONOMY-

Annual headline urban inflation reversed its downward trajectory to hit 13.6% in March, marking an 0.8 percentage point increase from the 12.8% recorded in February, according to data from state statistics agency Capmas. The March figure marks the nation's first increase in inflation reading since October 2024 when inflation recorded 26.5%. It also comes following a sharp dip in February on a favorable base effect. On a monthly basis, inflation edged up by 0.2 percentage points to 1.6%.

TRADE-

Egypt now faces a 10% tariff on its exports to the US under US President Donald Trump's recent trade policies. The rate was initially lower than that imposed on other countries, positioning Egypt to emerge as a potential economic winner amid the upheaval, before Trump dropped tariffs to a universal 10% rate for all trade partners except China for the next 90 days.

tariff relief could be on its way, with Egypt is actively in talks with the US to ease its recently imposed 10% tariff on exports from Egypt’s Qualifying Industrial Zones (QIZs) as well as on some goods subject to most-favored nation (MFN) tariffs. The caveat, however, is that relief would only be in the cards if Egypt removes non-tariff restrictions in key sectors, including ICT, air freight, and corporate ownership rules.

EGP WATCH-

The EGP slipped to its weakest level against the USD since the March 2024 float this week amid global uncertainty triggered by the tariff wars. At its lowest, the greenback is now changing hands for EGP 51.64-51.75 at banks.

Egypt will continue to rely on a flexible exchange rate regime as a first line of defense against global shocks, central bank Deputy Governor Ramy Aboul Naga told global investors gathered in Dubai for the EFG Hermes One on One attended by EnterpriseAM. The FX market is now acting as a "shock absorber" for the economy, helping prevent the build-up of structural imbalances and insulating Egypt from volatility in global trade and capital flows, he said.

CAPITAL MARKETS-

The EGX30 shed more than half of its YTD gains this week amid the trade war jitters before rallying by 2.43% to 30.8k points at yesterday’s close. The slide came as little surprise to market watchers, given the volatility rippling across global exchanges, but net selling by local institutional investors — rather than foreign or GCC players — raised eyebrows.

PRIVATIZATION WATCH-

The Sovereign Fund of Egypt (SFE) will begin restructuring five military-owned companies ahead of their planned listing under recently-signed cooperation agreements with the military’s National Service Projects Organization and a consortium of local and international advisors. The firms are filling station operator Wataneya, bottled water company Safi, food manufacturer Silo Foods, fuel retailer Chill Out, and the National Roads Company.

INVESTMENT WATCH-

Egypt and France inked a strategic partnership agreement during French President Emmanuel Macron’s official visit to Cairo which kicked off earlier this week. The two countries also signed nine agreements with the EU for soft loans and grants worth a combined EUR 262.3 mn for infrastructure projects in Egypt, in addition to numerous other agreements with the French private sector.

DEBT WATCH-

#1- Egypt is planning on issuing USD 2 bn in sukuk in 2025 through multiple offerings, with the government already having appointed banks for the issuance. The government is also open to debt-for-investment swap agreements akin to last year’s Ras El Hekma agreement as a means of securing FX.

#2- The Finance Ministry will begin issuing retail bonds through Egypt Post at what it describes as attractive interest rates. The move is designed to help middle-income Egyptians hedge against inflation, and forms part of the government’s broader strategy to reduce the cost of debt, attract new retail investors, and raise awareness of government debt instruments as secure investment options.

WHAT’S HAPPENING NEXT WEEK-

It’s interest rate decision time: With Trump’s unexpectedly far reaching and broad tariffs coming into play, all eyes will be on the central bank’s Monetary Policy Committee as it meets on 17 April to decide our interest rate path ahead. While the MPC kept rates steady for the last seven consecutive meetings, analysts have been increasingly penciling in April for when the bank would start cutting rates — but whether this holds to be true in lieu of the global trade war remains to be seen.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

AROUND THE WORLD IN SEVEN DAYS-

It’s all eyes on the fallout from Trump Tariffs and the global market turmoil they have sparked in the foreign business press.

Global investors got a whiplash after US President Donald Trump’s decision to freeze reciprocal tariffs on most countries for 90 days triggered a historic market rally, helping Wall Street stocks recover tns of USDs in losses.

Trump paused (most of) his reciprocal tariffs on (most) countries and hiked China’s tariff to 125%, up from 104%, after Beijing had pushed ahead with a retaliatory tariff of 84% on US goods. The blanket 10% tariff on most countries, which came in effect over the weekend, still applies, as do steel and aluminum and automaker levies. The reprieve came in response to over 75 countries reaching out for negotiations with the US, according to Trump.

Tens of thousands of demonstrators took to the streets in all 50 states to protest Trump’s cuts to federal agencies, deportation crackdown, economic tariffs, and attack on civil liberties

☀️ THE WEATHER THIS WEEKEND-

This weekend the mercury will continue to fall back after a warmer week in the capital, with temperatures set to reach 22°C on Friday and 23°C on Saturday. As for the evening, temperatures will drop to a chilly low of 13°C on both days.

HAPPENING THIS WEEKEND-

Don’t miss the second edition of the AUC Tahrir CultureFest, which kicked off yesterday and will be continuing throughout the weekend. This year, the festival will celebrate Cairo as a global city, and all the cultures it brings together, along with food, exhibitions, a book fair, panel talks, and a bazaar. You can register on the AUC website or at the door for no charge.

** Check out the must-see festival events in the Enterprise Guide below.

Celebrate Palestinian heritage and art this week at The French Institute of Egypt. The institute has joined hands with music platform and cultural initiative Palestine Music Expo and the UK-based collective Network for Palestine to present Ici la Palestine (Here is Palestine). The event will take place until Saturday, 12 April at the institute’s Mounira branch, and from Sunday 13 April to Monday, 14 April at the Alexandria branch. It will include film screenings, exhibitions, concerts, workshops, and Palestinian handcrafts. Entrance to the event is unpaid, and open to the public.

HAPPENING NEXT WEEKEND-

Massar Egbari will hit the stage next Friday in Sheikh Zayed: The band is bringing their signature sound and fan favorites to Teatro Arkan on Friday, 18 April. The concert kicks off at 8pm, and tickets are available now on TicketsMarche.